Tax collection of source
This query is : Resolved
27 May 2016
Sir,
What is the logic behind TCS system in which a person who selling the goods collect the tax? why it is not like TDS system in which a person receive service is deducting tax ? please explain logic or provide any file if available.
What is the logic behind TCS system in which a person who selling the goods collect the tax? why it is not like TDS system in which a person receive service is deducting tax ? please explain logic or provide any file if available.
27 May 2016
we have generally learn about tds (Tax Deducted at source ) but as per section 206C ,tax is to collected on sale also
,the concept of TDS and TCS is to get tax collected from the assessee so that he must be assessed under the
Income tax act and scope of the income tax can be widened.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
,the concept of TDS and TCS is to get tax collected from the assessee so that he must be assessed under the
Income tax act and scope of the income tax can be widened.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
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